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Larry Stack Leaves Stack's
Coinosaurus
Posts: 9,614 ✭✭✭✭✭
The E-Sylum just reported--
"Independent sources in a position to know have confirmed his exit. One E-Sylum reader I contacted writes:
Larry is Harvey Stack's son, Susan Stack's brother, nephew to the late Norman and Ben and grandson of founders Morton & Joseph. For the past 10 years or more, Larry was the controlling power at Stack's and was singularly responsible for bringing John J. Ford's estate to auction based on his longstanding friendship with Ford and Stack's relationship with researcher/cataloguer Mike Hodder, w ho was also close with Ford.
Larry adopted Ford's and Bowers' belief and practice in issuing informative, high quality auction catalogues which proved to be invaluable references years after the auctions occurred."
"Independent sources in a position to know have confirmed his exit. One E-Sylum reader I contacted writes:
Larry is Harvey Stack's son, Susan Stack's brother, nephew to the late Norman and Ben and grandson of founders Morton & Joseph. For the past 10 years or more, Larry was the controlling power at Stack's and was singularly responsible for bringing John J. Ford's estate to auction based on his longstanding friendship with Ford and Stack's relationship with researcher/cataloguer Mike Hodder, w ho was also close with Ford.
Larry adopted Ford's and Bowers' belief and practice in issuing informative, high quality auction catalogues which proved to be invaluable references years after the auctions occurred."
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Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Collecting:
Conder tokens
19th & 20th Century coins from Great Britain and the Realm
Worry is the interest you pay on a debt you may not owe.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
An authorized PCGS dealer, and a contributor to the Red Book.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>Who owns that firm, anyhow? >>
Yes, that is precisely the question.
Usually in public companies the CEO only leaves when they are retiring or when they have lost the confidence of the board of directors.
<< <i>hmmm ... if Stack would take over Bowers, then Stack will be at Bowers, and Bowers will be at Stack's, right? Ingenious!! >>
Ironic if nothing else.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
There was a very uncomfortable partnership there, to put it mildly.
And would I be the first to say that the quality and integrity of their auctions has become highly suspect lately? Well, they have.
<< <i>And would I be the first to say that the quality and integrity of their auctions has become highly suspect lately? Well, they have. >>
Can you give us some details or perhaps some examples?
Worry is the interest you pay on a debt you may not owe.
It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there!
<< <i>Didn't QDB get fired from Bowers and Merena? Looks like Heritage and Goldberg's are the only auction company out there that have the original namesake's working at their respective companies. >>
QDB's three companies were bought by Collectors Universe for CLCT stock that soon lost 90% of its value. Then the founder was forced out. Then the businesses were sold off at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they bought a diamond business. Then they sold it at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they paid the CEO of CLCT $400,000 so he would decide to want to spend more time with his family....
It's how Wall Street creates value....
It's really sad that Wall Street shows no interest in niche companies that do their jobs better than anyone else, are the leaders in the field, and provide a steady stream of income. There is always the pressure to show incredible gains quarter to quarter. So it's "buy other companies or be bought out" and/or expanding into other areas where the management does not have the same experience as with the original business.
<< <i>No.
It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! >>
O.K.....I get it.....The old hit and run.
Worry is the interest you pay on a debt you may not owe.
<< <i>
<< <i>Didn't QDB get fired from Bowers and Merena? Looks like Heritage and Goldberg's are the only auction company out there that have the original namesake's working at their respective companies. >>
QDB's three companies were bought by Collectors Universe for CLCT stock that soon lost 90% of its value. Then the founder was forced out. Then the businesses were sold off at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they bought a diamond business. Then they sold it at a loss. Then a press release was issued that CLCT was going to stick with what they know best, grading and authenticating coins and collectibles. Then they paid the CEO of CLCT $400,000 so he would decide to want to spend more time with his family....
It's how Wall Street creates value.... >>
Somewhere in there was a secondary offering.
K S
<< <i>
<< <i>No.
It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! >>
O.K.....I get it.....The old hit and run. >>
No. The old "my educated opinion" and no further comment.
Welcome to Stack's, a team of rare coin professionals. Under my leadership, that of my son Larry, and now Christine Karstedt...
<< <i>Well Frank, now that you have spewed your simple minded opinion, it's time for you to get back to your Jerry Springer reruns.. >>
Your insult of ME is taken for what it is. But when an organization advertises to the public that they are YOUR BEST CHOICE
because of the FAMILIAR FACES and TRUSTED NAMES, and one of those faces (the CEO at that) LEAVES,
it seems odd to argue that "it's not our place" to discuss this "emotionally charged issue."
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>
<< <i>No.
It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! >>
O.K.....I get it.....The old hit and run. >>
No. The old "my educated opinion" and no further comment. >>
Impossible!
Collecting:
Conder tokens
19th & 20th Century coins from Great Britain and the Realm
I wasn't the biggest fan of the merged companies but I prefer to keep my reasons to myself. I like Chris and would MOST HEARTILY welcome any improvements that could arise from this development.
I liked the OLD ANR. I loved the Jung auction and numerous others.
<< <i>
<< <i>
<< <i>
<< <i>No.
It's my opinion and I'll leave it at that. I'm not going to bury anyone and I am certainly not going to create a catalyst for a 100+ post thread, so there! >>
O.K.....I get it.....The old hit and run. >>
No. The old "my educated opinion" and no further comment. >>
Impossible! >>
See.
I miss the "Old Stacks" where I could bid on raw coins.
How many of you newbies could imagine bidding on a raw 1794 Gem Silver Dollar, or a raw gem 1894 S dime.
Or if you were me, you could bid on gem red raw Lincoln cents, or how about the finest 1877 Indian cent ? naked and raw
It REALLY developed Numismatic confidence in me and if I had a wish .........
Stacks could become the "Old Company" and sell raw coins again ....
Stewart Blay
There's a lot more than 100 living legends and a few of them posted just before me in this thread.
I'm truly humbled by it all. Having the freedom to share here is a lot of responsibility. I am sorry for joking in the face of the coin world. It's a wonderful place and that's that.
<< <i>I can think of a few great coins I purchased raw at the old Stacks as well: >>
Very nice!!
Don't know the situation at Stacks but always sad when talent is lost for any reason.
Bought Raw in a Stacks Auction:
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>What happened to Rick Bagg? >>
I heard he went off on his own
Sunshine Rare Coins
sunshinecoins.com/store/c1/Featured_Products.html
<< <i>I can think of a few great coins I purchased raw at the old Stacks as well: >>
[pretty pics deleted]
How come you didn't leave them raw?